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EEW pipes for Formosa 2 jackets

first_imgEEW Group is producing the steel pipe components for the 47 jacket foundations to be installed on the Formosa 2 wind farm offshore Taiwan. Located between four and ten nautical miles off Miaoli County, Formosa 2 will comprise 47 Siemens Gamesa 8 MW turbines installed in water depths of up to 55 metres. The wind farm is expected to be commissioned in 2021. The production of the steel pipes for the jackets started in January at EEW Korea, EEW KHPC, and EEW Malaysia and is expected to be completed in October 2020. “The development of renewable energy sources in East Asia is a role model for other countries. After the successful completion of the first Formosa I Phase 2 project (for which we supplied 20 monopiles from EEW SPC) we are proud to be a part of the follow-up project Formosa II,” said Christoph Schorge, CEO of the EEW Group. With lengths up to 78.9 metres, an outside diameter of 2.4 metres, weights up to 280 MT, the pin piles are also being manufactured at EEW KHPC, EEW Korea, and EEW Malaysia, with more than half of the units already completed. Jan De Nul is the EPCI contractor for the project’s foundations and subsea cables. As previously reported, EEW Group is also in charge of manufacturing and delivering the 194 pin piles for the 376 MW project. The Formosa 2 wind farm is being developed by a partnership between JERA, Macquarie’s Green Investment Group, and Swancor Renewable Energy. With a total tonnage of 47,500 MT, the steel pipes will be assembled into jacket foundations by Saipem and PT SMOE. First Pin Piles for Formosa II OWF at Gwangyang Port, South Korea. Source: EEW Group. In total, EEW Group will deliver 91,500 tons of construction steel pipes for the project.last_img read more

Swedish adjustment sees GiG report Q1 2019 revenue dip

first_img Share Betsson outrides pandemic challenges as regulatory dramas loom July 21, 2020 Related Articles Submit Share GiG lauds its ‘B2B makeover’ delivering Q2 growth August 11, 2020 StumbleUpon LeoVegas hits back at Swedish regulations despite Q2 successes August 13, 2020 Issuing its first trading statement as a Nasdaq Stockholm-listed enterprise, Gaming Innovation Group (GiG) details a tough opening to 2019 trading, as the company undertakes Swedish market adjustments.Updating investors, GiG records a 13% group revenue decline to €32 million (Q12018: €37m), attributed to anticipated Swedish market costs following the re-regulation of the market.Swedish adjustments impacted GIG’s revenue segments for both B2B €14.2 million (Q12018: €15.3m)  and B2C €20.2 million (Q12018: €25.4m) segments.Adjusting to new Swedish conditions, GiG governance details that the company ‘tightened its cost control’, reducing its period cost of sales and marketing expenditures.Despite its revenue slowdown, GiG maintained a positive EBITDA of €4.1 million (Q12018: €4.3m) in-line with corporate expectations.Robin Reed, GiG CEO, commented: “The Company delivered an EBITDA of €4.1m in Q1 and the key highlight was all-time high revenues and EBITDA in our media business. It is a performance I am reasonably satisfied with in light of the loss of a major B2B customer which we announced in Q4-18, and the new regulation in Sweden which is impacting both our B2C and B2B revenues. We had anticipated this and managed the impact by careful cost control.“The business is robust with cash flow from operating activities of €2.6m. GiG has become better and more competitive as the Company matures. Our leadership has never been stronger, our processes are more robust, and our strategic understanding and intent has evolved. I am looking forward with confidence to the growth opportunities for the rest of the year.”last_img read more